F B F: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
F B F
Largest movements
- Receivables within one year -€23,641
down €23,641 (-11.9%), from €198,170 to €174,529
of which Other amounts receivable: -€58,348
- Cash -€18,602
down €18,602 (-57.9%), from €32,107 to €13,505
mainly Contributions, distributions and other (-€121,491) and Other debts (-€26,438)
- Tangible fixed assets -€18,198
down €18,198 (-5.7%), from €319,320 to €301,122
of which Land and buildings: -€15,551
- Reserves -€81,491
down €81,491 (-26.3%), from €309,294 to €227,803
of which Distributable reserves: -€81,491
- Other debts -€26,438
no longer reported in 2025 (was €26,438)
- Current portion of long-term debt +€24,098
up €24,098 (+139%), from €17,360 to €41,457
- Accrued charges and deferred income +€19,551
up €19,551 (+71.9%), from €27,199 to €46,750
- Debts after one year -€17,457
down €17,457 (-18.3%), from €95,471 to €78,014
- Staff costs +€32,418
up €32,418 (+27.3%), from €118,544 to €150,961
- Gross operating margin +€22,699
up €22,699 (+8.7%), from €261,738 to €284,437
- Other operating charges -€6,407
down €6,407 (-30.2%), from €21,188 to €14,781
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €549,759 | €489,319 | -€60,440 | -11.0% |
| Fixed assets | 21/28 | €319,482 | €301,284 | -€18,198 | -5.7% |
| Tangible fixed assets | 22/27 | €319,320 | €301,122 | -€18,198 | -5.7% |
| Land and buildings | 22 | €300,912 | €285,361 | -€15,551 | -5.2% |
| Plant, machinery and equipment | 23 | €1,606 | €2,913 | +€1,306 | +81.3% |
| Furniture and vehicles | 24 | €16,802 | €12,848 | -€3,953 | -23.5% |
| Financial fixed assets | 28 | €162 | €162 | = | 0.0% |
| Current assets | 29/58 | €230,277 | €188,035 | -€42,242 | -18.3% |
| Amounts receivable within one year | 40/41 | €198,170 | €174,529 | -€23,641 | -11.9% |
| Trade receivables | 40 | €33,486 | €68,193 | +€34,707 | +104% |
| Other amounts receivable | 41 | €164,684 | €106,336 | -€58,348 | -35.4% |
| Cash at bank and in hand | 54/58 | €32,107 | €13,505 | -€18,602 | -57.9% |
| Total equity and liabilities | 10/49 | €549,759 | €489,319 | -€60,440 | -11.0% |
| Equity | 10/15 | €347,194 | €281,857 | -€65,337 | -18.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €309,294 | €227,803 | -€81,491 | -26.3% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €307,435 | €225,944 | -€81,491 | -26.5% |
| Profit (loss) carried forward | 14 | €19,308 | €35,462 | +€16,154 | +83.7% |
| Amounts payable | 17/49 | €202,565 | €207,461 | +€4,897 | +2.4% |
| Amounts payable after more than one year | 17 | €95,471 | €78,014 | -€17,457 | -18.3% |
| Financial debts | 170/4 | €95,471 | €78,014 | -€17,457 | -18.3% |
| Amounts payable within one year | 42/48 | €79,894 | €82,697 | +€2,803 | +3.5% |
| Current portion of amounts payable after more than one year | 42 | €17,360 | €41,457 | +€24,098 | +139% |
| Trade debts | 44 | €4,868 | €16,702 | +€11,834 | +243% |
| Suppliers | 440/4 | €4,868 | €16,702 | +€11,834 | +243% |
| Taxes, remuneration and social security | 45 | €31,229 | €24,538 | -€6,691 | -21.4% |
| Taxes | 450/3 | €23,484 | €16,176 | -€7,309 | -31.1% |
| Remuneration and social security | 454/9 | €7,745 | €8,362 | +€618 | +8.0% |
| Other amounts payable | 47/48 | €26,438 | - | -€26,438 | |
| Accrued charges and deferred income | 492/3 | €27,199 | €46,750 | +€19,551 | +71.9% |
| Remuneration, social security and pensions | 62 | €118,544 | €150,961 | +€32,418 | +27.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,149 | €20,193 | +€1,043 | +5.4% |
| Other operating charges | 640/8 | €21,188 | €14,781 | -€6,407 | -30.2% |
| Gross operating margin | 9900 | €261,738 | €284,437 | +€22,699 | +8.7% |
| Operating profit (loss) | 9901 | €102,857 | €98,502 | -€4,355 | -4.2% |
| Financial income | 75/76B | €305 | €0 | -€305 | -100.0% |
| Recurring financial income | 75 | €305 | €0 | -€305 | -100.0% |
| Financial charges | 65/66B | €3,650 | €2,516 | -€1,133 | -31.1% |
| Recurring financial charges | 65 | €3,650 | €2,516 | -€1,133 | -31.1% |
| Profit (loss) for the period before taxes | 9903 | €99,512 | €95,985 | -€3,526 | -3.5% |
| Income taxes | 67/77 | €40,688 | €39,832 | -€856 | -2.1% |
| Profit (loss) for the period | 9904 | €58,824 | €56,154 | -€2,670 | -4.5% |
| Profit (loss) for the period to be appropriated | 9905 | €58,824 | €56,154 | -€2,670 | -4.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.